Zopa Bank credit card review: fees, features and more

Considering getting a new credit card? There are lots of providers and cards to choose from in the UK, so finding the right one for you can be a little daunting.

We’re here to help, with a handy guide to a popular option - the Zopa Bank credit card. We’ll run through everything you need to know, from features to interest rates, fees and how to apply.

We’ll also find out how the Zopa Bank credit card works abroad, which could be useful if you’ve got a holiday planned.

And if you’re looking for a cheaper way to spend outside the UK, make sure to check out the Wise debit card from the money services provider Wise. It’s not a credit card, but offers low-cost spending and cash withdrawals in 150+ countries worldwide, with no foreign transaction fees, and only a tiny, upfront fee* for currency conversions.

Is Zopa Bank a good credit card provider?

On the face of it, Zopa Bank does seem to be a good credit card provider. For starters, it has won awards, including being named Best Credit Card Provider at the British Bank Awards 2021.¹

The bank was also named Banking Brand of the Year at the MoneyNet Awards 2022.¹

Previous customers also rate it, as Zopa has an ‘Excellent’ score of 4.5 on TrustPilot, based on over 22,000 reviews.²

It’s also reassuring to know that Zopa Bank is regulated by both the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK.³

Does Zopa Bank offer a credit card balance transfer?

Unfortunately, Zopa Bank doesn’t offer a balance transfer facility for its credit cards,⁴ unlike with some banks in the UK and other providers. So, you won’t be able to move a balance over from an existing card.

There’s also no option for money transfers, which is where you can pay a portion of your credit card balance into your bank account.

Zopa Bank credit card review

Here are all the key features of the Zopa Bank Credit Card at a glance, including APR, fees and more:⁴

Interest rate and fees⁴

The Zopa Credit Card interest rates are from 27.3% APR to 34.9% APR depending on the individual circumstances of the applicant. But there’s a representative interest rate of 24.9% APR (variable).

The card doesn’t have an annual or monthly fee, but there are some fees for cash transactions. So if you use the card to withdraw cash or carry out a cash-based transaction in any currency, there’s a flat fee of £3.

There’s no fee for exceeding your credit limit, but you will pay a penalty of £12 for late payments.

Credit card limits

Zopa’s credit card limits aren’t huge, ranging from just £200 to £1,200⁴ depending on the individual applicant’s circumstances.

Cash withdrawal

Generally speaking, credit cards aren’t great for withdrawing cash from an ATM. Most have cash withdrawal fees.

With the Zopa Credit Card, cash withdrawals will cost you £3 per time.⁴ So, it’s best to use a debit card for cash withdrawals, unless you’re really stuck.

Where can you use your Zopa Bank credit card?

The Zopa card is issued by Visa, so it should work worldwide - wherever Visa is accepted as a payment method. This means you can use it in shops, restaurants, bars, transport hubs and for online shopping.

Can you use your Zopa Bank credit card with the app?

One of the main benefits of the Zopa Bank credit card is its user-friendly mobile app. With the app, you can manage every feature of your card. This includes:⁵

• Viewing your PIN
• Downloading statements
• Checking in on your transactions
• Setting up instant payment notifications and real-time balance updates
• Switching on the Credit Cushion feature, which lets you set aside some of your available credit balance for emergencies.
• Freezing your card if you spot any unusual transactions, or if your card is lost or stolen.

Using your Zopa Bank credit card abroad

If you’re heading off on holiday, it’s good to know that you can use your Zopa Bank credit card abroad. It’s a good credit card for travel, as it doesn’t charge any foreign transaction fees either. This means you can spend like a local at your destination, without any extra costs added on top.

There are also currency conversion and exchange rates to factor in. The currency will be converted using Visa’s exchange rates, which you can check here.⁴

The only thing to watch out for is cash withdrawals. The flat fee of £3 per transaction will apply,⁴ and these charges can soon rack up if you make several visits to the ATM during your trip.

If you’re looking for an alternative, low-cost card for travelling abroad, the Wise card could be the perfect solution.

It’s not a credit card, but a contactless debit card. It’s the ideal travel companion, as it works worldwide in 150+ countries, can be managed via the Wise app and is compatible with mobile wallets. Best of all, there are no foreign transaction fees, only a tiny, upfront currency conversion fee*, and all currency conversions are done using the fair mid-market exchange rate.

Sign up with Wise today 💰

Zopa Bank contact number for credit cards

Have a question about Zopa Bank credit cards, or need help with your application?

To speak to customer services, you’ll need to call 020 7580 6060 - available Monday to Friday, 9am to 6pm.⁶

After reading our Zopa Bank credit card review, you’ll have all the info you need to decide if it’s the right card for you.

If you’re looking for an everyday credit card that works well abroad (except for cash withdrawals), this could be a decent option. The APR rate is higher than some others on the market though, so it could be worth comparing with other UK credit cards out there before applying.

Sources used for this article:

Sources checked on 24-Nov-2023.